President Chain Store Corp aims for NT$7 billion in pre-tax earnings

By Jason Tan / Staff reporter

Sat, Dec 18, 2010 - Page 12

President Chain Store Corp (統一超商), the operator of Taiwan’s largest convenience store chain 7-Eleven, will seek to increase its pre-tax earnings to NT$7 billion (US$234.5 million) next year.

The firm’s pre-tax earnings for this year are expected to be more than NT$6 billion, company president Hsu Chung-jen (徐重仁) told a media gathering yesterday.

President Chain Store runs about 5,000 retail operations on both sides of the Taiwan Strait, including 4,750 7-Eleven stores in Taiwan, and also has a presence in the Philippines.

The company, which opened its first 7-Eleven store in Shanghai in April last year, aims to triple the number of outlets there to 150 next year.

“The pattern in China will be very similar to Taiwan. There is not much appetite for hypermarkets, but mini-marts like convenience stores will be growing at a much faster speed than we expected,” Hsu said.

In the Philippines, the company plans 1,000 7-Eleven outlets serving local communities by 2015.

Having moved into that market in 2000, President Chain Store launched its 500th 7-Eleven store in August, cementing its position as the largest convenience store chain in the Philippines.

On its home turf, Hsu singled out the mass uptake of the company’s iBon ticket-selling kiosks as a successful new business strategy.

After iBon started to sell high- speed rail tickets early this year, the store chain now accounts for 10 percent of total daily ticket sales, or 10,000 tickets.

The company said it would continue to give its current stores makeovers, providing customers with more seating space and a cozy environment to use Wi-Fi.